5 Cross St 2,600 SF 100% Leased Retail Building Barnstaple EX31 1BA £295,000 (£113.46/SF)

The property is of three storey construction with a prominent single fronted office / shop at ground floor and rendered elevations at first and second floors to the front and tile hung upper floor elevation to the rear. To the rear of the building is a single storey extension providing additional space for the ground floor office / shop premises which has a main office of 996 sq.ft (93 sq.m) and specification including gas central heating, LED lighting and meeting. To the side of the property is a self-contained entrance to the separate office suite and separate flat, with the office suite comprising of 4 offices of 802 sq.ft (75 sq.m) plus kitchen and toilet facilities. The refurbished and centrally heated flat offers 2 bedrooms, kitchen/diner, lounge and shower room.
The premises are situated on Cross Street, which links to the Town’s High Street and the riverside Strand. There are a wide variety of retail, office, service and leisure operators in the immediate vicinity including Lloyds Bank as well as professional services including Estate Agents and Solicitors.
Our clients are inviting offers for the Freehold interest, with the benefit of the existing tenancies. Guide price £295,000.
Shop – Let for £12,000 per annum, on a 10 year lease term, from September 2021, Tenants break clause at year 5 with 6 months notice.
Office – Let for £5,750 per annum, on a 6 year lease term, from December 2020.
Flat - £9,000 per annum, let on an Assured Shorthold agreement.
Total rent roll £26,750 pa Tenancy Lease held on an internal repairing and insuring basis, with service charge for external repairs.